Why use a Finance Broker for Equipment or Asset Finance?
When it comes to growing your business, having the right tools, machinery, or vehicles can make all the difference. But securing the best finance solution for those assets isn't always straight forward, especially when time is tight and options are overwhelming.
That's where a Finance Broker can make a big impact!
What does a Finance Broker actually do?
A Finance Broker is a professional who works on your behalf to source, negotiate and manage finance arrangements with lenders. Rather than being tied to one bank or finance company, brokers have access to a wide network of lenders and products, which means more choice and flexibility for you.
When it comes to Equipment or Asset Finance, brokers help businesses secure funding for things like:
Commercial Vehicles
Whether it's a single ute or an entire fleet of vehicles, brokers can arrange finance options that match your cash flow and business needs. They can also help with chattel mortgage, finance lease and operating leases.
Construction or Agricultural Equipment
From excavators and skid steers to tractors and harvesters, this equipment is vital, but expensive! A broker can help structure finance with seasonal payments and tax-effective options.
Manufacturing Machinery
For businesses in fabrication, engineering, or food processing, new or upgraded machinery can mean higher output and efficiency. Brokers can offer fast, hassle-free solutions, allowing you to acquire the necessary equipment promptly and keep your business running at peak profitability.
Professional, Medical or Office
From healthcare clinics to corporate offices, having the right equipment is essential to deliver quality service and maintain operational efficiency. Brokers understand the unique lending needs of these sectors and can help structure finance with tailored repayment options suited to your cash flow.
Top Reasons to use a Finance Broker
Here are just a few of the ways a Finance Broker can add value to your business:
1. Access to Broader Range of Lenders
Banks will only offer their own products, which may not suit your needs. Finance Brokers, on the other hand, can compare offers across multiple banks, non-bank lenders and specialist financiers. Often with access to lower rates or deals, that aren't publicly advertised.
2. Tailored Finance Solutions
Every business has it's own cash flow cycle, tax position and asset needs. A good broker can help structure your finance in a way that supports your business, whether that's through a chattel mortgage, lease or hire purchase.
3. Save Time and Hassle
Sorting through finance options, submitting applications and dealing with lender paperwork can be time consuming. While we handle all of that for you, making the process smoother and faster, from start to finish.
4. Better Approval Outcomes
Finance Brokers understand what lenders a looking for. We know how to present your application in the best light, even if your circumstances are complex (e.g. self-employed, low-doc or newly established business).
5. Strong Negotiation Power
Because brokers write volume and maintain strong lender relationships, we can often negotiate better rates and terms than what you might get on your own.
6. Expertise and Industry Insight
From depreciation schedules to balloon payments, brokers understand the ins and outs of asset finance, and can guide you through every step of the way, so you're not left guessing.
7. Support Beyond Settlement
Finance Brokers don't disappear once the loan is approved! We can help with refinancing, contract renewals, future purchases and answering any questions that come up along the way.
With RLA, you only need to go through the initial setup process once. From there, we're here for the long haul, ready to support you with tailored solutions and expert advice throughout your financial journey.
Final Thoughts
Financing new equipment or assets is a big step, and choosing the right structure can have lasting impacts on your cash flow, tax position and growth potential. Engaging RLA Finance means you're not navigating that decision alone.
With expert knowledge and support, we are here to add real value to your business! At RLA, we are upfront and honest about our process from start to finish. We will always go the extra mile to ensure you're nothing less than satisfied with the service we provided. We can help your business get the equipment it needs, on terms that work for you, while you get on with running your business.